Intrepid Potash, Inc. (NYSE:IPI) Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Intrepid Potash, Inc. (NYSE:IPI) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,951 shares of the basic materials company’s stock after selling 10,944 shares during the period. Bank of New York Mellon Corp owned approximately 0.26% of Intrepid Potash worth $744,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IPI. R Squared Ltd purchased a new position in Intrepid Potash during the 4th quarter worth approximately $38,000. SG Americas Securities LLC lifted its stake in Intrepid Potash by 14.0% in the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 830 shares in the last quarter. Quest Partners LLC boosted its position in Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after acquiring an additional 9,448 shares during the period. Barclays PLC grew its stake in Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after acquiring an additional 10,599 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Intrepid Potash by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 2,242 shares during the period. 56.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered their price objective on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a research report on Tuesday, March 4th.

Insider Buying and Selling at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 15,476 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.58, for a total transaction of $473,256.08. Following the transaction, the insider now directly owns 1,123,230 shares of the company’s stock, valued at $34,348,373.40. This represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 218,821 shares of company stock worth $5,893,545 over the last ninety days. 18.00% of the stock is currently owned by insiders.

Intrepid Potash Trading Up 0.7 %

Shares of NYSE:IPI opened at $30.28 on Thursday. The firm has a market cap of $400.43 million, a price-to-earnings ratio of -9.04 and a beta of 2.18. Intrepid Potash, Inc. has a 1 year low of $18.83 and a 1 year high of $31.29. The business has a fifty day simple moving average of $26.64 and a 200 day simple moving average of $25.43.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The firm had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same quarter in the prior year, the firm earned ($0.41) earnings per share. On average, sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

About Intrepid Potash

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.